Essay on Two Business A2 Level Critical Path Analysis...

Q1) Discuss the benefits to Balfour Beatty of using critical path analysis in order to plan its construction projects. (15 marks) Critical path analysis identifies the most efficient and cost effective way of completing a complex project. The various activities which together will make up the project are identified, and the order of these activities are identified. Then, the duration of each activity is estimated and these factors are then arranged as a network or graph, showing the whole project from start to finish, and showing which tasks can happen at the same time. The sequence of tasks which have to be done one after another with no gaps in between is called the Critical Path. One benefit of Critical Path analysis to Balfour†¦show more content†¦Q2) Evaluate the main difficulties faced by Balfour Beatty and other construction companies in their use of CPA to plan their projects. (15 marks) Critical path analysis identifies the most efficient and cost effective way of completing a complex project. The various activities which together will make up the project are identified, and the order of these activities are identified. Then, the duration of each activity is estimated and these factors are then arranged as a network or graph, showing the whole project from start to finish, and showing which tasks can happen at the same time. The sequence of tasks which have to be done one after another with no gaps in between is called the Critical Path. One difficulty of using Critical Path Analysis is that unless critical activities are identified and supervised closely, there’ll be delays to the whole project. Critical path analysis puts pressure on mangers to manage effectively and meet deadlines. If, for example, Balfour Beatty was unable to get hold of a particular piece of equipment when needed, the whole project could be delayed by the amount of time that it takes to get the equipment. This means that there will be many employees being paid with no output and the whole project is delayed with doesn’t usually bode well with the customer. A second difficulty of using CriticalShow MoreRelatedThe Mission Of The Task3249 Words   |  13 Pagesverification and mechanical. Mission of the task expounds that after the regard of the idea and outline construction modelling two prototypes will be building and they will at last be audited in the last plan endorsement. Degree said that the venture is evaluated to be completing in 231 days and the change can be subjected under a few conditions. 2. 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Is Sustainability A Path For Profitability And Competitive...

Ibrahim Alojeel Is Sustainability a path to Profitability and Competitive Advantage for Small Business in America? â€Å"If we each take responsibility in shifting our own behavior, we can trigger the type of change that is necessary to achieve sustainability for our race or this planet. We change our planet, our environment, our humanity every day, every year, every decade, and every millennia†. Yehuda Berg I. Introduction In this era of sustainable development, companies have realized the importance of adopting a corporate social responsibility and contributing their part in the development of environmental sustainability in the community that they are a part of. However, what is interesting to note is that many companies have found the†¦show more content†¦by â€Å"going green† and adopting sustainable practices as an attractive opportunity for them to reduce their costs and increase their profits. For example, a New York-based mass producer of furniture, Human scale, cut back its carbon footprint only to find out that it also helped the company to reduce its electrical, packaging and shipping costs. Similarly, companies like New Belgium and Aspin Skiing Co. have also found that â€Å"environmental conscience wasn t divorced from critical business need†, meaning following their corporate responsibility can actually benefit them in terms of increased revenues (Kramer, 2013). How ever, the situation is not the same for small businesses in America. Small Businesses and Sustainability: Small businesses or SMEs can be defined as those types of businesses where the total number of employees is less than five hundred and such businesses have much fewer resources than large companies (Russell Young, 2013). These businesses are a source of growth for the U.S. economy as they bring innovation and new opportunities for jobs in the market. 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Enterprise System for Production and Distribution -myassignmenthelp

Questions: 1.What are the key goals IGT wanted to achieve using an ERP system? 2.How should IGT handle change management during ERP implementation? Answers: 1. The primary reason why ICT wanted to adopt the new EPR system was to enhance the efficiency of its operations. This efficiency was to encompass both production activities and information access by its employees in various departments such as finance, sales, and production. Before this integrations, the information was disintegrated accessing it was very exhausting. Therefore, this scattering of information is what prompted the adaptation of EPR. The EPR system contains a set of core business applications entailing finance, production, distribution and human resource all integrated together. According to IGT, this move was undertaken purely for business basis and not to cope with technology. Therefore, the key goals they wanted to achieve with this decision was to have in place a cohesive information technology set-up that would permit their growth. Additionally, just like many other large-scale manufacturers, the wanted a system which would have smooth integration of information. This system enabled the company to monitor all of their departments and enhanced the linking of the main company to its subordinate branches. In summary, the companys primary goal while embracing this new system was to improve efficiency and effectiveness of its various operations. This ranges from production to customers order processing. The pros and cons to customizing the system When adopting a new structure, the management should consider how the system fits the organizations operations. This is the element of complementary; this new system should adequately address the film's requirement. The decision made by IGT to implement SAP displays good coordination and efficient planning among the management because this system had the capabilities of being customized. However, customization has its advantages and disadvantages. The main advantage of customizing the system is that you can set the system to fit into your demands. This eradicates the possibilities of outsourcing or using disintegrated systems. Therefore, when you customize a system, it fits perfectly into your organizations needs. This is what IGT did; they aligned the system to serve their operations. However, there are disadvantages of customizing. First, you must have the technical skills to execute this activity. Furthermore, you must enter all of your firms information and specifics into the sys tem which is not an easy process. IGT had to assemble a team of individuals from its order group and engineering department to overcome this problem. The team was had to customize the system to handle the complex activities of the company. Therefore, successful customizing of a system requires the involvement of people from different sector within a firm. The operation is tedious and time-consuming. However, it is very vital to align the system to adequately address organization needs since it improves the efficiency of operations. 2.According to Reiss (2012, p.3), there are three formal features which describe the nature of change. These features are complexity, omnipresence, and prominence. Therefore, when managing change, the management should be aware of these key features. There are several issues that IGT should handle during the change management process. The most vital thing that the company executives should acknowledge is that managing change in a collaborative activity and requires participation from all the companys stakeholders. This includes even the workers and the customers. Firstly, they should ensure that they train all the employees on this new prospect. This will make their employees be conversant with the new systems requirement and adjust accordingly. Training, in this case, entails how to use the new structure and elaborating on its importance. Customers play a vital role in the way a company handles its operations. Therefore, IGT should enlighten their clients on this new development. Fo r example, the clients should be made aware of the reduction in the number of days for processing rush orders to four weeks from seven. This will enable them to adapt effectively to this new approach. Finally, the management should ensure that they incorporate positive attitude in their workers and clients to improve the acceptability of this new system. Reference List Reiss, M., 2012. Change Management: A Balance and Blended Approach. S.l.:BoD Books on Demand.

Polo Description Essays - Cricket, Fielding, Dismissal, Batting

Polo Description A polo match lasts about one and one-half hours and is divided into six 7 minute periods or chukkers. Since a horse in fast polo can cover two and one-half to three miles per period, he'll be too tired to play a second one right away. After resting for two or three periods, some horses can return to the game. Still, in championship polo, a player will come to the field with at least six horses. The mounts are horses, mostly thoroughbreds, not ponies. The object of the game is to score as many goals as possible. There are four players on a team and each assumes a specific position either offensive or defensive. However, given the enormous size of the playing fields, the momentum of the galloping horses and the ball's unexpected changes of direction, the game is very fluid, and the positions continuously change. There are few set plays in polo, and good anticipation is almost a sixth sense. With thousand pound animals running at speed there is a pre-eminent necessity for a right of way rule. The central concept in the rules of polo is the line of the ball, a right-of-way established by the path of the traveling ball. Like the rules of the road, there are do's and don'ts governing access to this right-of-way and crossing it. Within these limitations, a player can hook an opponent's mallet, push him off the line, bump him with his horse or steal the ball from him. Penalties are awarded as free hits. The more severe, the shorter the distance to the goal. The closer hits are almost certain goals. After every goal is scored, the teams change sides in order to compensate for field and wind conditions. A typical score would be 10-7. Polo games are played on the flat or the handicap. Every registered player is awarded a skill rating from C (-2, the lowest) to 10 (the highest). When a match is played on the handicap basis, the sum total rating of the players on the team is subtracted from that of the opposition. Any difference is then awarded to the lower rated side in goals on the scoreboard. Polo - The history Possibly the oldest team sport, polo's genesis is lost to the eye of history. An Asiatic game, polo was first played on a barren campground by nomadic warriors over two thousand years ago Valuable for training Cavalry, the game was played from Constantinople to Japan by the Middle Ages. Known in the East as the Game of Kings, Tamer lane's polo grounds can still be seen in Samarkand. British tea planters in India witnessed the game in the early 1800's but it was not until the 1850's that the British Cavalry drew up the earliest rules and by the 1869's the game was well established in England. James Gordon Bennett, a noted American publisher, balloonist, and adventurer, was captivated by the sport and brought it to New York in 1876 where it caught on immediately. Within ten years, there were major clubs all over the east, including Newport and Long Island. Over the next 50 years, polo achieved extraordinary popularity in the United States. By the 1930's polo was in the midst of a Golden Age it was an Olympic sport and crowds in excess of 30,000 regularly attended international matches at Meadow Brook Polo Club on Long Island. The galloping game produced athletes who would doubtless have achieved greatness in any sport. Cecil Smith, the Texas cowboy who held a perfect 10-goal rating for a still-record 25 years. Devereux Melbourne, instrumental in formulating modern styles of play and Tommy Hitch cock, war hero and the best of the best in international competition for two decades. In the past 20 years, polo in the United States has undergone an unprecedented and remarkable expansion. At present, there are more than 225 clubs with over 3,000 players. Cricket - The rules There are 2 teams which have 11 players each. They play on a large circular or oval field batting area pitch at the center. At each end of the pitch is a 28inch-high wicket consisting of three vertical poles called stumps and two small horizontal sticks called bales. Wicket is an old word for a small gate. One team bats and the other team fields or bowls. All eleven members of the fielding team are on the field at the same time in various positions. Two members of the batting team are on the field at a time,

Death Penalty Against essays

Death Penalty Against essays Millions to Kill, Pennies to Heal The human life is the most valuable resource on this planet. I ask why we must continue the chain of hate with legalized murder. We must accept the fact that there are people on this earth that live amongst us that do not value their own lives. This is a horrible thought; everyone should love themselves and believe in his or her self worth. This is something very difficult to do when your governing body is throwing away lives like they are worthless. It is the governments job to protect us from cold blooded murders, but no one said anything about having to kill them. These horrible people are safely behind bars doing their life sentences where they can do no one any harm. In Edward I. Kochs essay Death and Justice: How Capital Punishment Affirms Life he takes the commonly heard arguments and responds to them. The problem with this is he fails to make his argument on many key issues having to do with the death penalty. There is no perfect way to kill a person. This is something that Edward I. Koch admits to in his essay. The reason for this is because human beings were not created to kill each other. They werent meant to die by each others hand. Why do we feel that it is our job to bring about justice? Who are we to play God? Koch uses a very inappropriate metaphor by comparing the death penalty to cancer. In this comparison he says: Ultimately we may learn how to cure cancer with a simple pill. Unfortunately, that day has not arrived. Today we are faced with the choice of letting the cancer (murderers) spread or trying to cure it with the methods available, methods that someday will almost certainly be considered barbaric. (Koch, 624) By saying this Koch is making the wrong assumption that the death penalty prevents murders. This is something that is completely untrue and has no factual backing. The death penalty lives ...

Riordan Manufacturing Strategic Plan Essays

Riordan Manufacturing Strategic Plan Essays Riordan Manufacturing Strategic Plan Paper Riordan Manufacturing Strategic Plan Paper . Riordan Manufacturing Strategic Plan University of Phoenix Strategic Management MGT/498 Riordan Manufacturing Strategic Plan A world renowned plastics manufacturer employing nearly 550 workers worldwide, Riordan Manufacturing Co. a leader in the industry of plastic injection molding, has more than $1 billion in revenue. With operations based in California, Michigan, Georgia, and China, review of current resources within Riordan’s business structure reveal numerous areas in need of redefining to improve operational efficiency company-wide. Implementation of this proposed strategic plan will address issues areas of improvement including Ethical and social responsibility considerations Competitive advantages, strategies, improved innovation, and sustainability in domestic and international markets Strategy effectiveness measurement guidelines to be used Internal dynamics, cultural, and structural leadership Business continuity Assessment, feedback, and alternative directions as needed Since the founding of the company in 1991, Riordan manufacturing enjoys status as Fortune 1000 company and shares a number of competitive advantages with many other companies in various lines of business. Riordan shares the competitive advantages of direct selling along with customer, employee, and shareholder commitment with global Internet retailer Amazon. com and juvenile product and toy retailer Toys†R† Us. Riordan provides revenue and profitability growth as they provide products at the lowest cost along with a commitment to the communities Riordan serves. Riordan also shares the advantage of strong brand recognition in their industry just as Nike, Ford Motor Co. , Homes. com, and Federal Express have in their markets. Riordan is also known for their strength of quality in engineering on par with the Ford Motor Co. Strategic Plan Riordan was founded by Dr. Riordan, a professor in chemistry in 1991 (Apollo Group, Inc. , 2008). Over the years Riordan has expanded the business from development, to manufacturing and, to production. Riordan was able to accomplish this expansion by acquiring a manufacturing plant in Pontiac, Michigan, and an additional plant for production in Albany, Georgia. In 2000 Riordan took their operation global and opened a manufacturing plant in China. Riordan has been able to manage three locations successfully to date. However, Riordan recognizes the need to develop a strategic plan to increase profitability by establishing new accounting and marketing systems. A strategic plan must be realistic and attainable. Riordan’s strategic plan should serve as the framework for future decisions, it should inform, motivate, and involve their stakeholders. The strategic plan should include benchmarking and performance monitoring. The plan should stimulate change and become the building block to future plans within Riordan Manufacturing. Riordan’s strategic plan should address the finance and accounting department’s inability to obtain seamless data reporting within the three locations that cause delays in month end reporting (Apollo Group, Inc. , 2008). The ability to provide timely month end reporting to the board of directors is essential to recognizing potential financial threats and trends in the business. In addition the strategic plan should address the antiquated marketing system. Riordan has achieved several accolades over the years. However, most of this data is filed away and not easily accessible to the marketing department. The development of a marketing information system will give research and development the ability to use historical data for tracking units, volumes, and products sold for developing new marketing strategies (Apollo Group, Inc. , 2008). The Role of Ethical and Social Responsibility Ethical and social responsibility will have an intricate role in Riordan strategic management plan. Ethics involves knowing right from wrong and simply doing the right thing. Riordan must ensure they are reporting true and accurate financial records to all stakeholders. Today Riordan uses three separate accounting systems to compile financial data. This data is often re-entered by the headquarters office in San Jose. Manual entry of information is subject to reporting inaccuracies that may question Riordan’s ethics. The Sarbanes-Oxley Act of 2002 mandated a number of reforms to enhance corporate responsibility, enhance financial disclosures and combat corporate and accounting fraud. Riordan has a social responsibility to ensure the manufacturing plants are producing quality materials. Riordan must ensure they establish an effective quality control program consisting of design reviews, engineering analysis, adequate recordkeeping of raw materials and finished goods, inspection of incoming materials, testing during the manufacturing process and finished part inspections. These records should be of sufficient detail to document the steps that were performed in manufacturing the product. Such records should include results of design reviews; supplier information, product testing and inspection; equipment calibrations; and product tracing information (AM Trust North America, 2010, p. 4). The records will assist in timely detection of safety hazards and trends within Riordan Manufacturing. Environmental Scan To better understand what Riordan’s competitive advantages are and which competitive strategies Riordan should use to improve innovation and sustainability, members of Team A must first perform an environmental scan. The simplest and most effective way of con ducting the scan is by performing a SWOT analysis on Riordan (Wheelen Hunger, 2010). Riordan possesses manyuch strength’s as the team observeds fromin the internal environmental scan. The corporation’s brand is widely recognized in the automotive parts, aircraft, and appliance manufacturing industries as well as with the Department of Defense, beverage makers, and bottlers. The company manufactures its products on two different continents, so it can reach an international market and reduce some costs by manufacturing in a more underdeveloped country, China. This adds to Riordan’s ability to offer their products at lower prices while maintaining revenue and profitability growth. The manufacturing firm also boasts high standards of quality as it exceeds ISO 9000 standards (Apollo Group, Inc. 2008). Riordan has several weaknesses. The first is their costs of goods are directly related to the rising cost of oil. Because Riordan’s products are made from polymer and derived completely from oil, profit margins are greatly affected when oil prices rise. Riordan’s finance and accounting systems in each of their manufacturing branches are not com patible with one another. This has resulted in higher labor costs, costly monthly auditing, slow reaction time to financial dilemmas, compliance to government regulation strains, and high inventory costs (Apollo Group, Inc. , 2008). The external environmental scan shows some opportunities for Riordan. Consumer demand and capital spending remain steady in the midst of a global economic downturn. Globalization is also allowing manufacturing companies to lower operating costs by producing their products in underdeveloped countries where labor costs are much lower. Finally, Brazil is becoming the leading producer of bioplastics and recently has discovered technology to compete with current oil derived plastics prices (Apollo Group, Inc. , 2008). Threats to Riordan could be devastating to the company if not approached correctly. The downturn in the economy is affecting every industry and thus the supplier of polymer parts. Oil prices are rising each year and increasing the costs of producing plastic materials and parts. Finally, more consumers are pushing for environmental practices and products from large corporations (Apollo Group, Inc. , 2008). Competitive Advantages From this SWOT analysis, Team A observes Riordan’s competitive advantages. Like Toys R US and Amazon, Riordan provides low prices to its customers and maintains revenue and profit growth. The firm has strong brand awareness and provides the highest quality in manufacturing (Apollo Group, Inc. , 2008). Competitive Strategies and Measurement Guidelines To improve innovation and sustainability in both domestic and international applications, Riordan must approve and implement a few competitive strategies. Riordan managers must reduce inventory costs by 30% and lower labor costs in its existing plants and headquarters by 10%. This strategy can be accomplished by seamlessly integrating each Finance and Accounting department of each branch manufacturing plant and the corporate headquarters. By implementing a state-of-the-art ERP manufacturing, distribution, and financial software application software, Riordan can reach the above stated strategic goals (Apollo Group, Inc. , 2008). The cost of the integrated system is $1,350,000. Riordan’s CFO will need to make two payments of $250,000 over the next year, and the remaining will be financed through the bank with 8% interest, which will be paid over 60 months. The investment will include manager training and additional licensing for expansion. The system implementation and training will take one year. The second year will be used to observe opportunities to minimize labor and inventory costs. By year three, audits should be reduced by half, labor costs by 15%. Inventory cost will also drop to 30% by year three because invoices and accounting information will be delivered in real-time, which will allow the company to ship products quickly after they have been produced (Apollo Group, Inc. , 2008). Measurement guidelines must be in place to ensure these strategies effectiveness. By the end of the second year of deployment, labor costs should be minimized by 5% with the remaining 10% reduced by the end of the third year. Inventory costs should drop by 10% by the end of the second year and the remaining 20% by the end of the third year of implementation. These percentages will be monitored quarterly by the executive management with the current budgets, income statements, and balance sheets. The next proposed competitive strategy is to expand to new markets and increase the company customer base and revenue by 25% in five years. This will be accomplished by moving to a joint venture with Braskem, the world’s leading producer of bioplastics. Based in Brazil, this venture would allow the corporation to broaden its customer base by manufacturing products for the medical device, cosmetic, food packaging, and personal-hygiene industries. The move would also protect Riordan from fluctuating oil prices by diversifying its resources with plastics made from renewable resources, which are now competitively priced with oil-derived polymers. Providing products out of renewable resources or green products would allow the company to reach more environmentally conscious customers (Morales, Pulido, Ticas, 2009). The venture would cost $15 million dollars, which would be funded by Riordan Industries and would surpass the 12% hurdle rate. The investment includes infrastructure, logistics, labor, marketing, and additional machinery and supplies (Apollo Group, Inc. , 2008). The measurement guidelines to ensure the strategy’s effectiveness are based on a percentage of yearly growth added to the company’s current revenue growth from established locations. By the end of the second year of implementation, 2% growth must be recorded, 7% at the end of year three, 15% at the end of year four, and 25% by the end of year five. These benchmarks will be monitored by the executive management against current revenues. Metrics for new clients, life of existing clients, and lost clients will be monitored monthly to ensure strategy effectiveness. Cultural and Structural Leadership Cultural and structural leadership strategies need to be implemented at Riordan Manufacturing, â€Å"Strategy implementation is a process by which strategies and policies are put into action through the development of programs, budgets, and procedures. This process involves changes within the overall culture, structure, and management system of the entire organization† (Wheelen Hunger,  2008,  p. 1). The culture and structure of the organization must be compatible with the new strategy. The strategy implementation is reviewed by the top management team and is conducted by middle and lower lever managers of the organization. Leadership in an organization is vital at all levels of the organization. Ongoing communication is nec essary at all levels of the organization as Riordan moves forward to implement the strategic changes (Wheelen Hunger,  2008). The mission of an organization is the purpose for the company’s existence. The mission tells what the company does. The vision of an organization describes what the organization would like to become. The mission and vision should capture the culture of the organization (Wheelen Hunger,  2008). The current mission of Riordan consists of four parts: focus, customer relationship, employees, and future of the company. The focus of Riordan is Six Sigma, having the leading edge of research and development (RD), and exceeding ISO 9000 standards. Their focus also includes continuing to be the industry leaders in using polymer materials and identifying industry trends. The mission of their customer relationships is to strive to be a solution provider for their customers and not be part of customer challenges. The focuses of the long-term relationships are to maintain quality control, a responsive business, innovative solutions, and reasonable pricing. The mission for their employees is to maintain an innovative and team oriented working environment. The focus of their future is to achieve and maintain reasonable profitability to ensure that the financial and human capital of Riordan is available for sustained growth (Apollo Group, Inc. , 2008). Corporate culture should be considered when implementing the business strategy for Riordan, †Corporate culture is the collection of beliefs, expectations, and values learned and shared by a corporation’s members and transmitted from one generation of employees to another† (Wheelen Hunger,  2008,  p. 149). Intensity and integration are two attributes of corporate culture. The cultural intensity consists of the degree to which members of a unit accept the values and norms associated with the organization. The cultural integration is the extent to which the units throughout the organization share a common culture. The corporate culture on an organization reflects the mission and the values of the founder. The culture also reflects the organization’s values (Wheelen Hunger, 2010). Divisional structure, functional structure, strategic business unit structure, and matrix structure are types of the organizational structures that could be considered by Riordan to implement their business strategy. Divisional and functional structures are examples of the basic organizational structures. In the divisional structure the employees tend to be functional specialist organized according to the product/market distinctions. The divisional structure is used in large corporations with many products lines in several related industries. In the functional structure the employees tend to be specialists in the business functions vital to that industry. The business functions include manufacturing, marketing, finance, and human resources. Functional structure is commonly used in medium-sized organizations with several product lines in one industry. The strategic business unit structure is groups or divisions composed of independent product/market segments. These groups are given the primary authority and responsibility for the management of their own functional areas of the organization. In the matrix structure the functional and product forms are combined at the same level of the organization. The matrix structure the employees have a functional manager and a product manager (Wheelen Hunger, 2010). Team A has determined that the best organizational structure for Riordan to implement their business strategy would be the divisional organizational structure. Riordan products include plastic bottles, fans, heart valves, medical stents, and custom plastic parts. Riordan must manage a diverse product line in different industries. The divisional organizational structure will allow Riordan to decentralize the decision-making authority. Implementing the divisional organizational structure will allow Riordan to maintain their functional specialization in each division. Evaluation and Control Once the company’s strategies have been integrated into its operation, the final stage of strategic management is utilizing applications that will properly and accurately assess the performance outcome within a corporate, a divisional, and a functional viewpoint. Employing measures that will evaluate and control the implemented strategy by Riordan will enable the firm to ensure that the company is in the direction of reaching its goals by simply comparing its actual performance outcome with the expected results consisting of its performance data and its activity reports, which will provide the compulsory feedback for management to evaluate results and to take corrective action, as necessary (Wheelen Hunger, 2010). Evaluation and Control Process The evaluation and control process will provide Riordan with a general outlook of the firm’s productivity. Primarily, it is usually initiated when a gap appears between a company’s financial objectives and the expected results of current activities (Wheelen Hunger, 2010). Evaluation and control consist of a five step process that assesses and establish guidelines that will address the efficiency and the effectiveness of Riordan’s integrated plan. The five steps are 1) Determine what to measure, 2) Establish standards of performance, 3) Measure actual performance, 4) Compare actual performance with the standard, and 5) Take corrective action. In summary, the process evaluates and establishes a level of standards on the elements of concern of any new stratagem and then comparing its actual outcome with its level of standards. Should the outcome fall below the set standards, only then remedial actions would be necessary. Figure. 1 depicts the evaluation and control process:   [pic]Figure. 1 Measuring Performance Measuring productivity following Riordan’s integrated plan is done by evaluating the firm’s performance level. Utilizing the numeric values extracted from its activity and financial reports can calculate the effectiveness or lack of the company’s performance, in an effort to expose any unwanted flaws or unexpected discrepancies. There are specific tools that Riordan can use to measure performance in order to analyze its results within the present time or to foresee possible outcomes. Return on Investment (ROI), Earnings per Share (EPS), and Return on Equity (ROE) are tools typically used to evaluate the corporation’s or division’s ability to achieve the firm’s profitability objective (Wheelen Hunger, 2010). Each tool can only calculate earnings during the present time and does not foresee likely profitability; however, ROI, EPS, and ROE are done only when all the accounted figures from the company’s financial and activity reports have been documented. In contrast, these feats would not be ideal when evaluating social responsibility or employee development (Wheelen Hunger, 2010). A more appropriate tool to better evaluate Riordan’s overall performance level is by utilizing a method known as steering control, which will research variables that will manipulate prospect profitability. Steering control is categorized into three subcategories, which are input controls, output controls, and behavior controls. Input controls oversee the company’s resources such as knowledge, skills, abilities, values, and motives of the employees. This will help assess of Riordan’s internal infrastructure. Behavior controls are company protocols based on the firm’s policies, rules, operating procedures, and orders from its management. Output controls focuses on areas of the business that are done in a specific way based on the effect of the behaviors through the use of objectives and performance targets (Wheelen Hunger, 2010). Shareholder value is a present-day application that most companies employ to evaluate its performance. To help asses Riordan’s operation, this will be a valuable tool in order to estimate economic value, likely profitability, and strategic management effectiveness. Shareholder value is the present value of the anticipated future stream of cash flows from the business plus the value of the company if liquidated (Wheelen Hunger, 2010). Cash flow is the element that is measured to determine the financial strength and stability of a company. In turn, to label a company financially sound, profits are weighed against the cost of capital. If Riordan’s profits outweigh the money invested as capital, the company will appear financially strong to its shareholders. There are two methods to measure shareholder value, which are, 1) economic value added (EVA), which assesses the dissimilarity between the pre-strategy and post-strategy values of a firm, and 2) market value added (MVA), which is the difference between the market value of a business and the capital provided by shareholders and lenders (Wheelen Hunger, 2010). In combination with the shareholder value method, Riordan will also employ a balanced scorecard. A balance scorecard is a combination of financial and operational measures that will entail data outlining the results of business actions that have occurred along with detailed information documenting customer satisfaction, internal processes, and the corporation’s innovation and improvement activities. These components are the drivers of future financial performance (Wheelen Hunger, 2010). There are four elements that make up a balanced scorecard, which are 1) Financial: How do we appear to shareholders 2) Customer: How do customers view us 3) Internal business perspective: What must we excel at, and 4) Innovation and learning: Can we continue to improve and create value (Wheelen Hunger, 2010)? Business Continuity Riordan struggles in the continuity of its finance and accounting systems in three locations, San Jose, Michigan, and Georgia, with the three locations running separate accounting systems. Although each system is effective separately running the core functions of general ledger, accounts payable, accounts receivable, order entry, procurement, sales and purchasing history, invoicing and shipping, payroll, financial reporting, three other critical functions, EDI, bar code reading, and EDSS exist only in the San Jose office, where all data is summarized. This lack of continuity causes time-consuming internal audits and re-entry of data once received in the San Jose location. As San Jose is running a licensed ERP accounting and finance system, additional licenses need to be acquired for the Michigan and Georgia locations. This license purchase will eliminate the costly deciphering of data in San Jose and increase the value of the allotted budget allowance. Cost effectiveness is attained in a year three break-even point and cost savings from that point forward. Another area of continuity concern is the Riordan Human Resources (HR) function in two areas, job requirements and payroll. Numerous positions need a review in terms of job requirements to ensure qualified employees are in place to significantly reduce reporting errors. Additionally, performance appraisals (Riordan Employee Handbook, 2011) need to be moved to an employee’s anniversary date as opposed to the Riordan fiscal year, thereby staggering budget allocation along with increasing the pay period length to every two weeks to reduce time spent on payroll by 47%. Conclusion Riordan Manufacturing needs strategic plan implementation to strengthen competitive advantages which increase market and shareholder value. Implementation will reduce inventory cost by 30% in operational plants globally resulting in an addition 10% cost reduction in finance and accounting in the San Jose location. The long term goals of the strategy must be totally supported by Riordan’s executive management team and communicated strongly to the entire organization. It must be measured and controlled and adjustments must be made in light of any unforeseen occurrences. Installation and training in new systems and procedures must be timed to occur over two quarters with quarter three as a backup plan. Failure to implement a strategic as suggested places Riordan at risk for reduced profits, cost overruns, decreased market share, customer and employee dissatisfaction as well as that of shareholders. As a leader in the plastic injection molding industry, Riordan Manufacturing cannot afford anything less than full implementation of this strategic plan. References Wheelen, T. L. , Hunger, J. D. (2010). Concepts in strategic management and business policy (12th ed. ). Upper Saddle River, NJ: Pearson Education. Apollo Group, Inc. (2008). Virtual Organizations [Multimedia]. Retrieved from Apollo Group, Inc. , MGT498 website Morales, R. , Pulido, D. , Ticas, S. (2009,  April). The Brazilian Bioplastics Revolution. [emailprotected], (), 1-5. Apollo Group, Inc. (2008). Virtual Organizations [Multimedia]. Retrieved from https://ecampus. phoenix. edu/secure/aapd/cist/vop/business/Riordan/HR/Riordan%20Manufacturing%20Employee%20Handbook. pdf

Newspaper register comparison Essay Example | Topics and Well Written Essays - 750 words

Newspaper register comparison - Essay Example Since the author was describing about her father's recovery she used the function words more often. More number of function words was used in the first article compare to the second article. Function words were described in the 2nd page of class #2: Words and Word Classes. Verbs, nouns, pronouns, were used in high percentage by the author in order to describe the fatality and recovery of her father from an accident. The above three differences discussed shows the importance of the usage of grammar in day-to-day life. Words like thinking, excited, etc., usage of articles, function words, objective predicative, lexical words, etc., gives meaning to the descriptive methodologies. They provide different dimensions to express one's thoughts in phrases. References Petrina Gentile Zucco. (2006) Luxury fit for my father. The Globe And Mail, August 3. Scott Roberts. (2006) Heavy Net users light socializers, Statescan reports: Those who spend more than an hour a day on web are less available for their families. Statescan study, August 3, A5. Biber D, Conrad S and Leech G. (2002) Longman Student Grammar of Spoken and Written English. Essex: Pearson Education Limited.